The Great Debate

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On Friday U.S. District Judge Richard Sullivan will sentence former SAC Capital Advisors hedge fund manager Michael Steinberg for his conviction in December on five counts related to insider trading. Steinberg is one of two former SAC employees whom federal prosecutors believe have firsthand knowledge of insider trading by SAC’s founder, Steven Cohen. Cohen has not been charged with any crime. Though Steinberg will likely receive a lengthy prison term, neither he nor Mathew Martoma, an SAC colleague convicted in January, is — at least publicly — cooperating with the government.